ISLA

From 7 July, ISLA will migrate its website and email to a new domain – www.islagroup.org, to more accurately reflect our legal entity structure. Please see below for important information regarding the change and recommended actions for ISLA members. What Is Changing?

ISLA is pleased to announce the publication of a new paper exploring the application of close-out netting under the GMSLA 2010. As the legal bedrock of the securities lending market, the GMSLA’s resilience is most critical during times of market stress or counterparty default.

With 680 attendees, over 450 speakers and three full days of panels, key notes and discussions, a vast array of content spanning the past, present and future of the industry was covered. Here are our key takeaways from this year’s conference: The data is clear- our market is in a period of robust growth. Activity is broadening across regions and asset classes, and as a more diverse range of participants enters the space, the demand for tailored liquidity solutions is deepening.

The fourth and final day of the 33rd Annual Securities Finance & Collateral Management Conference was kicked off by our co-chair, Keren Halperin, with a recap of Wednesday’s highlights, from AI to digital advancements and the fact that we have seen abundant growth across our entire industry. New Players, Different Game?

Following our Networking Breakfast sponsored by Alrajhi Capital, Our conference co-chair Stefan Kaiser led the proceedings on day 3, thanking our +50 sponsors for their broad industry coverage and highlighting record attendance at Tuesday’s Beneficial Owners breakfast and the successful ISLA Connects lunch for junior talent and new entrants to the industry.

Following a hugely successful Monday evening Meet & Greet , ISLA CEO, Ina Budh-Raja opened proceedings on the first full agenda day of Lisbon 2026 by sharing how our markets are evolving beyond its traditional boundaries – shaped by new markets, new technologies and new trading structures. “The ISLA Annual Conference offers the market the opportunity to not only come together to adapt to these changes, but to work together to define how we do it”.

As the global implementation of Basel III reaches an important milestone, we are pleased to share our latest report: Basel III – The Securities Financing Market Toolkit. Capital efficiency remains one of the most important strategic themes for our industry with continued uncertainty around the regulatory and legal treatment of capital and balance sheet optimisation strategies.

LONDON, Friday 19 June 2026 – The International Securities Lending Association (ISLA) and The International Capital Market Association (ICMA) have submitted a joint response to the 2026 U.S. Basel III notice of proposed rulemaking (NPR). The submission outlines critical recommendations to ensure that the new capital rules accurately reflect the operational realities of the securities financing markets, which serve as the primary engine of systemic liquidity across the global financial system.

LONDON, Wednesday 10 June – The International Securities Lending Association (ISLA), the leading authority and advocate for the securities lending and financing industry, is delighted to announce that Stephen O’Donnell has joined the Association as Chief Operating Officer. Stephen brings more than 20 years’ experience at Tier 1 global financial institutions spanning securities finance, derivatives, collateral and clearing.

As we head towards our 33rd Annual Securities Finance & Collateral Management Conference in Lisbon and reflecting on market events over the last two quarters, I wanted to take a moment of your time to share a flavour of what the ISLA team has been doing since January.